LendingClub(LC) - 2024 Q3 - Earnings Call Presentation

Financial Performance - LendingClub's Q3 2024 total originations reached $1.9 billion, exceeding the guidance target of $1.8 billion to $1.9 billion[12] - The company's Q3 2024 Pre-Provision Net Revenue (PPNR) was $65.5 million, surpassing the guidance target of $40 million to $50 million[12] - Net Interest Income increased to $140.2 million in Q3 2024, driven by the purchase of a $1.3 billion loan portfolio[12] - Risk-Adjusted Revenue grew to $154.3 million in Q3 2024, driven by revenue growth partially offset by higher loan retention[18] - Book Value Per Common Share increased by 8% year-over-year to $11.95, while Tangible Book Value Per Common Share increased by 10% year-over-year to $11.19[34,41] Loan Portfolio and Credit Quality - LendingClub acquired a $1.3 billion seasoned portfolio of previously sold LendingClub-issued loans[16] - The portfolio yield is approximately 10%, inclusive of expected credit losses[17] - LendingClub's average cost of interest-bearing deposits is 4.79%[10] - The company's loan performance continues to outperform its competitive set in terms of delinquencies and hardships[13] Member Engagement and Strategy - LendingClub has over 5 million members[4] - Members save on average over 30% when they consolidate credit card debt through LendingClub[8] - The company's Net Promoter Score (NPS) is 83[5]